Guan Tao, global chief economist of BOC Securities: At present, there will be neither policy decline nor policy increase

Per reporter: Zhang Shoulin Per editor: Chen Xu

On October 22, the 2021 China Financial Development Forum, hosted by the Daily Economic News, opened in Beijing with the theme of "Achieving a New Mission of Carbon Neutral Finance".

Guan Tao was photographed by reporter Song Ge

At the forum, Guan Tao, Global Chief Economist of BOC Securities, delivered a keynote speech. He said that the policy level proposes to do a good job in cross-cycle adjustment, maintain the continuity, stability and sustainability of macro policies, make overall plans for the convergence of macro policies this year and next year, and coordinate economic growth in the second half of this year and next year, indicating that there will be neither policy decline nor policy increases, but to make good use of existing policies and play a good "combined fist" of fiscal, monetary and structural policies.

Guan Tao stressed that strong stimulation is difficult to make a big difference, and excessive force may cause structural distortion and asset bubbles. If the stimulus is greater, the higher the cost of exit in the future. Monetary policy should continue to maintain reasonable and sufficient liquidity, strengthen cooperation with fiscal policy, and reduce the financing cost of the real economy.

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